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Emlak Konut REIT reported total sales revenue of 29.9 billion lira from residential units and land sales during the first quarter of the year. The company sold 1,623 independent units, generating 24.3 billion lira in pre-sales value, excluding VAT. Additionally, 25 land plots were sold for 5.5 billion lira. Sales to foreign buyers remained limited, with 21 units sold for 305.8 million lira. The update reflects steady transaction activity, supported by both housing demand and land monetisation efforts.
Emlak Konut Gayrimenkul Yatirim Ortakligi reported that its total sales revenue from residential units and land reached 29.9 billion lira during the first quarter of the year. Advertisement
The company recorded sales of 1,623 independent residential units over the period, generating a total pre-sales value of 24.3 billion lira, excluding VAT. This indicates continued traction in housing demand, particularly in large-scale residential developments where the company has a strong presence.
Alongside residential sales, Emlak Konut also monetised its land portfolio by selling 25 plots for a combined value of 5.5 billion lira. Land sales have remained an important part of the company’s business model, supporting cash flow and enabling new project development.
Foreign buyer participation was relatively limited during the quarter. The company sold 21 units to international buyers, generating 305.8 million lira in revenue, excluding VAT. This reflects a continued moderation in overseas demand compared to earlier periods when foreign investment in Turkish real estate was higher.
Emlak Konut, one of Turkey’s largest real estate investment trusts, has consistently focused on large housing projects and strategic land development. In previous quarters, the company has used pre-sales as a key mechanism to maintain liquidity and fund ongoing construction, while also aligning launches with market demand.
The latest figures highlight a balanced contribution from both residential unit sales and land transactions, indicating stable operational performance despite varying demand trends across buyer segments.
Source Reuters
5th Jun, 2025
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